JPMorgan Chase & Co. Cuts International Business Machines (NYSE:IBM) Price Target to $185.00

International Business Machines (NYSE:IBM) had its price objective decreased by JPMorgan Chase & Co. from $190.00 to $185.00 in a research note released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Wedbush raised their price target on International Business Machines from $140.00 to $160.00 and gave the company a neutral rating in a report on Thursday. BMO Capital Markets dropped their price objective on International Business Machines from $210.00 to $190.00 and set a market perform rating for the company in a research note on Thursday. StockNews.com downgraded International Business Machines from a buy rating to a hold rating in a research note on Tuesday, April 23rd. UBS Group raised their price objective on International Business Machines from $125.00 to $130.00 and gave the company a sell rating in a research note on Monday, April 22nd. Finally, Evercore ISI raised International Business Machines from an in-line rating to an outperform rating and raised their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $184.08.

International Business Machines Stock Down 1.1 %

IBM opened at $167.13 on Thursday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. The business has a 50 day simple moving average of $187.60 and a 200-day simple moving average of $170.53. The stock has a market capitalization of $153.21 billion, a P/E ratio of 18.93, a P/E/G ratio of 3.30 and a beta of 0.70. International Business Machines has a 12 month low of $120.55 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $1.36 EPS. On average, equities analysts anticipate that International Business Machines will post 9.99 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, February 8th. International Business Machines’s payout ratio is 75.20%.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Naples Money Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at $31,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Finally, Creative Capital Management Investments LLC grew its position in shares of International Business Machines by 56.9% in the first quarter. Creative Capital Management Investments LLC now owns 204 shares of the technology company’s stock valued at $39,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.